Leicester City owners King power International have agreed to purchase OH Leuven, the Belgian club says.
The second-tier club, located just east of capital city Brussels, narrowly avoided relegation this season.
The club's board set a time limit in its search for investment and said King Power "was the only bidder who made a clear and coherent proposal".
Its directors said the deal "guarantees the future of the club, both financially and in sporting terms".
OH Leuven were relegated from Belgium's top tier in 2015-16 but said new ownership would provide "sufficient financial resources to aspire to the earliest possible return".